TheStreet.com co-founder Cramer renews contract

NEW YORK (Reuters) - Online financial news service TheStreet.com said on Wednesday that it has renewed its employment agreement with co-founder and CNBC's "Mad Money" host Jim Cramer that will restrict him from writing articles for Internet competitors.

Cramer will get $1.3 million in his first year of the agreement, according to a filing with the U.S. Securities and Exchanges Commission. Compensation will rise to $1.56 million in the second year and $1.87 million in the third year.

He also agreed to not write articles for online competitors, but will be allowed to write other pieces, including a column for New York magazine, TheStreet.com said in its filing.

CNBC is controlled by General Electric Co.

(Reporting by Robert Macmillan, editing by Gerald E. McCormick)